There’s so much to be thankful for, amidst the challenges we’ve faced this year. We’re counting our blessings!

Pilgrim doggies from Lulu.com

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She’ll want that stimulus check now! Is it possible to win a million dollars and still file for bankruptcy in 2 months? Apparently so!

How to become a millionaire? Well winning a game show is one way to do it. But then again, here’s this story of such a “millionaire”, which I can only describe as a tale of riches to rags, or maybe of rags to riches to rags.

There’s this woman — no other than a State School Superintendent — who won a million dollars on the game show “Are You Smarter Than A Fifth Grader”? She won the grand prize and pledged to donate it to various schools. But since her win 2 months ago, her husband’s home building company has failed, forcing her family to file for bankruptcy.

Click this link or the image to see this CNN video.

Goes to show you just how tenuous our financial situation can be at any point in time. For many people, it only takes a layoff, one bad business cycle, one bad trade in the stock market or one major illness to wipe out the family’s fortunes. I covered a lot of this when I wrote about the only 3 reasons why people go bankrupt.

The game show winner is still honoring her promise to gift her winnings to schools, with the funds sheltered in a “gift foundation” that is supposed to be protected from her creditors. Hopefully, her donation stays intact and untouched throughout bankruptcy proceedings.

Now what else caught my eye this week? Some more reads from the financial web:

• The Sun’s Financial Diary: FDIC Problem Bank List Now Includes 171 Banks
• Money Smart Life: Black Friday Deals or Cyber Monday Savings?
• My Dollar Plan: An Administrative Error Could Cost You Your Retirement
• Bible Money Matters: Christmas Is For Debt?
• The Wallet: What’s Your Black Friday Strategy?
• Personal Finance Analyst: Online Consumer Education and Rip Off Report
• Happy Rock: The “Paying Cash” Experience - 2 Months Later

Recent Carnivals

• Carnival of Personal Finance
• Festival of Stocks
• Carnival of Money Hacks
• Review Bloggers Carnival
• Total Mind and Body Fitness Blog Carnival
• Best of Me Symphony

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Want to skip out on traffic and crowds, and save some time and money when you shop? Here’s how the bargain hunter goes online shopping — through these top retail coupon sites!

Image is from the coupon site, RetailMeNot!

I live in a pretty remote area that is seriously deficient when it comes to decent shopping. The retail event of the century was when the new Super Wal-Mart opened, so “dining out” around here means making a trip to the local Ponderosa. There’s certainly nothing wrong with any of this, but I sometimes miss the enormous malls full of pretty, shiny things (many of which I couldn’t and still can’t afford) that I left behind.

Because I can no longer visit the stores where I used to shop at when I lived in the city, I do a lot of shopping online. Just because I live in a rural area with few shopping opportunities and locales, I shouldn’t have to give up the brands that I love. I also shouldn’t have to pay more for those brands just because I end up buying them through the internet. Even with shipping costs, I’ve found that it’s often easy to meet or beat store prices by shopping online. All it takes is a little detective work and a good coupon site.

Top Retail Coupon Sites for the Stay At Home Bargain Hunter

There are dozens of websites dedicated specifically to retail coupon codes for online shopping. They contain tons of coupons that can be used at your favorite e-tailers, so you’ve got less of an excuse to pay full price at an online store. Here are some of the more popular options:

1. Ebates

While Ebates is technically more of a fantastic cash back rewards program, they actually offer a great listing of coupons for hundreds of online merchants. Just click on the merchant and a little pop up window appears to advise you of all the great deals and coupons that are available in addition to the cash back that you’ll receive.

2. Retail Me Not

Retail Me Not is a very easy to use coupon site. Simply type in the name of your target merchant on the site’s front page, and the site will provide you with a list of coupons for that merchant. Some notable features of the site: users may submit and share coupons through a submission page; there’s also a forum area where you can make money (through revenue sharing) by posting and participating in the RetailMeNot community. The site also allows you to vote and comment upon how well a coupon has worked for you and shows the coupon’s success rate (the percentage of times a particular coupon has worked for users who have tried it).

3. Coupon Mountain

Coupon Mountain is also very easy to search. I?ve had less luck finding usable coupons through Coupon Mountain recently, but it may be because my merchant preferences have changed. YMMV.

4. Coupon Cabin

Coupon Cabin is a site that has received many positive media reviews. The most popular coupons on Coupon Cabin are tested daily to ensure their validity, which saves the user a lot of time. Additionally, you can read user reviews written about various merchants, and/or view exactly where on the merchant site the coupon code should be entered.

5. Coupon Code

Coupon Code is not a site that I’ve used before, but I think I’ll be trying it out in the future. The site appears to be very well designed and user friendly, with a drop down list on the top of the page listing dozens of merchants. Selecting a merchant takes you to another page that lists all of the coupon options for that particular merchant.

Quick Tips on Using Online Retail Coupons

Which retail coupon site should you use? It depends, really, on what you need or want. Not all sites have all online stores listed. Also, you may find that some coupon sites have better codes than others, or more working codes. E-coupons expire just like paper coupons do, though sometimes you will get lucky and the code will work for a day or so past its expiration date.

You might need to spend a little time finding the best coupon code for any given transaction. Most online stores will accept only one coupon or promotional code, but multiple codes may be available for different types of discounts. Weigh free shipping offers against dollars off or percent off coupons to determine which will give you the most benefit. There are a few merchants who will allow use of more than one offer. Victoria’s Secret, for instance, allows the use of up to three promo codes per transaction — no wonder it’s a popular pick at these coupon sites! On my last Victoria Secret order, I scored $15 off, a free lip gloss set, AND free shipping!

With all of the coupon sites available, there’s little reason why I should pay more than my city-dwelling friends for the things that I love but can’t buy locally. Now how about sharing your favorite retail coupon sites with us?

 
Contributing Writer: Emiley Thacker

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Who’s to blame for the worst economic crisis since the Great Depression?

Warning… long rant ahead.

Have you heard the latest bad joke around? Okay not this bailout crisis joke I wrote about a week or so ago but the one on how we’re socializing our financial markets by making the taxpayers bail out all our financial institutions. As someone put it, “this is a form of wealth distribution alright, the government robbing from the poor to give to the rich….”.

So when will this nightmare of a crisis end? Sure we’re shoring up our failing banks and institutions right now, and even possibly certain vital industries that are the heart and pulse of our nation. But, I also see the flip-side, which is the fact that we (and our kids, and maybe even our grandkids) will be paying off for this till kingdom come, with the whole thing financed by our debt to foreign interests (e.g. Chinese).

This soap opera can’t be without its sorry cast of characters.

Golden Sach’s Bailout Man: Henry Paulson and George W. Bush, by Buckfush

Big 3 take private jets to grovel for cash, by Daily News

Capitalism Gone Awry

I wonder: how naive have I been? I am big on capitalism and believe wholeheartedly in rewarding anyone for the work they’ve done and value they’ve produced. I’ve always been of the mind that, if a CEO does well by his company and makes me happy as a stockholder, I have no qualms in approving a commensurate pay package for the geezer.

I’ve always been a proponent of self-regulation and a laissez faire economy, but this very thing has led to the disasters we’re seeing today. Now with the government sweeping in to save “the big guys” from themselves and their gross mistakes, I see that apparently, self-accountability is optional in this free market. Very interesting what this blog has to say:

Now consider: finance is a necessary function, but is represents a tax, a drain on the productive economy, just as defense and lawyers do. It is ironic that free market fundamentalists have so vociferously argued for unfettered markets, without understanding (or perhaps understanding all too well) that the house always wins.

The whole crisis has caused a very large swing from one extreme to another, the moving pendulum leaving behind much collateral damage: credit’s gone from very loose to extremely tight overnight.

Some people who had access to a lot of credit will correctly have a lot less, and that on dearer terms. But there are also perfectly worthwhile businesses and individuals who are also caught in the meat grinder of indiscriminate reduction of loan balances. Times are bad, and any efforts to extract more revenues from customers, even if it is blood from a turnip, or worse, even if it puts a viable business under, is warranted.

Silly me to have been so gullible, as I now stand confused about what should be done and how the economy should be run. It doesn’t help that I keep reading stuff like this to feed my migraines and sour stomach bouts.

How This Economic Crisis Is Breaking Financial Rules

What stance do I take now, as a die-hard pro-business supporter? I had placed my faith in the “powers that be” and didn’t think I’d ever see these levels of corruption, unchecked greed and blatant mismanagement in a first world country on this grand a scale (yes, I say this as someone who’s no stranger to the machinations of the third world, where corrupt ineptitude is rampant). This stuff happens, sure enough, but it happens in another world, and under the covers.

But there’s no hiding the ugly anymore. All I can see now is just how the ruling class has done a number on the working masses. And for the millions of people who followed the financial rule book throughout their lives to meet a horrible end to their futures because of the incompetent, morally degenerate few — well, I can say I’m beyond disappointed, and have crossed the line to feeling outrage and disgust.

Yes, this crisis is breaking all sorts of rules, including those I’d consider as long-standing successful personal financial tenets. Responsible approaches to personal finance don’t have a chance against a crisis of tsunamic proportions:

So let’s see — doing the right thing by scrimping, saving, investing, diversifying, doing proper asset allocation, avoiding market timing, indexing, and hedging against inflation through equities, even doing your job well will no longer guarantee you a splendid, worry-free financial future. Not when a “once in a century financial event” can just come by and rob you off the stuff you worked so hard for; not when someone “up there” can change the rules for you, just like that.

I didn’t necessarily see it coming, but some of my readers here have: I see just how observant readers have been, as they’ve shared their insights on the causes and consequences of the subprime mortgage financial crisis, the pros and cons of financial bailouts, and the relevance of market timing during a stock market bear and the current investment climate.

The Economic Crisis Calls For Faith: Do You Have Any To Spare?

Perhaps I’ve placed far too much faith in the integrity of our political and business leaders and trends in modern history to believe that our financial system was strong enough (and people were smart and honest enough) to absorb any shakeups, shocks and imbalances that happen. I still have hope, but recent events continually call to question my position in this matter.

Not long ago, I had asked: who’s to blame for the subprime mortgage mess? I said then that everyone here had a hand in this (from the mortgage lenders to the developers to the Fed to ignorant homeowners), but in reality, I’m now seeing where the bulk of that blame should go. It should be clear by now who should bear the brunt of your harsh judgment: follow the money.

Sure we (as the little people) can’t really do much about this (except whine, rant and call the villains out), but with more discussion, we can spread awareness of these ridiculous affairs. What I got out of this is that there’s little out there we can count on and few people we can trust when it comes to our finances. A sobering thought. Do you think there are really any lessons and takeaways here for the future? Do we even have much of a future the way it’s been mortgaged?

I welcome your thoughts on this matter. Fire away!

This is a post from The Digerati Life.

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Additional casualties and signs of economic recession: laid off bloggers and your favorite web sites for sale!

Do you see what’s in store for you next year? Well, I’ve peeked at my crystal ball and can see the same thing you’re all seeing, an ugly 2009 as the economy continues to contract. Still no relief in sight (or maybe just a little, with Obama stepping in with a pep talk and an action plan).

Still, the tremors reverberate in the blogosphere.

More and more bloggers are reporting that they’ve been laid off, or are afraid that they will be. Some of the ones I know:

• Trent Lapinski’s Blog: Dear Barak Obama, I?m 22 I Just Got Laid Off, and I Can?t Afford College - Please Help (ugh! This was hard to read.)
• Amateur Asset Allocator: I Was Laid Off Yesterday
• Finance Your Life: Job Security: I Am Safe….Right?
• Shaun’s Real Estate Adventures: This is Why I Want Passive Income
• The Smart Passive Income Blog: Nevermind. I Just Got Laid Off

Judging by the dates on these posts, changes have been coming fast and quick! I’ve also mentioned that TechCrunch has this layoff tracker while Gawker (the online media name that bloggers look up to ) is selling off The Consumerist, and Valleywag (what!? one less Silicon Valley blog?) and trimming its staff. You can see how the online world has been taking its hits.

The trends have been reflecting reality for a while now, so when are they announcing that we’re officially in the dog house?

I’ve also talked about how we’re coping with the recession in Silicon Valley, but whatever else I’ve got to say about this can fill a book. Anyway, it’s been the subject of deep conversation between me and my close friends and family these past few weeks.

More Signs of Economic Recession Where I Live

Just to see how widespread the financial pain is, I’ve polled the people I know for their stories and concerns — here are just a few:

• A couple of people I know have been laid off in the last two weeks. These are people who work at smaller companies that are now embarking on cost cutting measures. With the VC spigot closing off, startups that aren’t solvent will be forced to cut back heavily or close down completely. Startups are living on borrowed time. These events are reminiscent of massive layoffs in Silicon Valley in 2000 during the tech bust, so it’s not new to me. I should get used to this happening every 5 to 8 years, I guess.
• Friends of mine who are consultants are experiencing delays in payments. Uh oh. They’ve done the work, but there’s some worry they’ll end up on a long list of creditors waiting to get paid.
• Too close to home! I never thought it would happen, but someone I know pretty well actually is in the process of losing their house. The story is complicated — he was a victim of a drawn out scam that got exposed by the housing downturn. And I’ve heard rumors of acquaintances going on short sales on expensive homes they purchased only a few years ago (and which I had the pleasure of visiting during house-warming parties galore way back when).
• I heard about how there are scores of luxury cars just sitting on Long Beach right now, with no takers. I got this story from a guy who’s well insulated from the crisis because he’s sitting on a huge pile of cash (he’s very conservative with his savings). Yet, he’s concerned about the effect of currency exchange on his international business.
• Some of us self-employed folks are seriously thinking of joining the many out there who’re already chasing what few jobs are around. I read that Cisco’s job listings have dropped by 93% in one week, from many thousands of openings to a trickle of a few hundred.
• I miss “happy” news. Could this be capitulation? Or close?

Break Open Your Emergency Funds

For many whose lives have been viciously upturned by the forces of the economy, it sure feels that this recession isn’t “normal”. But the reality is that this is probably what a “true” recession feels like. The waves of an economic downturn are much like dealing with the effects of an impending tornado. The tornado spares some while it devastates others. You just pray it doesn’t hit your household when it comes, although you can expect it to do a number on your landscape.

This has become a time of emergency for many. Our situation clearly emphasizes the importance of having enough insurance to cover ourselves when such a “disaster” hits — and when I mean insurance, I am referring to emergency funds and enough liquidity to tide you over during the storm. Does this mean we should have at least 1 years’ worth of expenses in cash? Maybe so, especially since nasty recessions can last that long! If you’ve got unemployment benefits covering you for 6 to 9 months plus a one year stash of cash, you could get through this nail-biting ride.

So let’s hunker down in the basement and see if we can ignore the angry winds out there for now. I’m doing it by starting the ball rolling on some portfolio rebalancing efforts (gah!) and selling off investment losers.

So let’s check what else is on the minds of our favorite financial bloggers, shall we?

• Consumerism Commentary: Take Control of Your Finances Part 5: Build A Better Budget
• Five Cent Nickel: Ted Turner on The Economy
• Free Money Finance: Is Your 401k Dying?
• Credit Karma: Are You Financially Prepared For Disaster?
• Rich Credit Debt Loan: Getting Rich By Leveraging Debt
• Lazy Man and Money: Oil’s Well That Ends Well
• Brip Blap: The Results Oriented Work Environment
• Frugal Dad: Looking For Happiness In All The Wrong Places
• Gen X Finance: Is an Extended Warranty on a Used Car Worth It? The Good, Bad, and Ugly of These Service Contracts
• Million Dollar Journey: Common Job Interview Questions
• One Mint: Can You Take A Loan On A Simple IRA?
• My Simpler Life: Fitting In Household Chores
• The Personal Financier: Thoughts on Citi in Trouble, Market Swings, Stock Charts

Notable Mentions Around The Web

• MSN Money Blog mentions our post on 10 signs of a stock market bottom.
• WSJ’s The Wallet Blog mentions our post on last minute gift ideas.

Recent Carnivals

• Carnival of Financial Planning
• Work At Home Blog Carnival
• Carnival of The Vanities
• Money Hacks Carnival

This is a post from The Digerati Life.

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Add this to my list of last minute gift ideas: a couple of Restaurant.com discount deals and coupons to give you up to 80% off the gift certificates you purchase.

How about some good news for a change? I know my wallet needs a break from the never-ending drama in the financial markets, but just in time for the holidays, here are some pretty decent offers that make for some great gifts.

Watch this space for the latest Restaurant.com deals and coupons you can use!

Restaurant.com Discount Deals and Coupons

Newest Deal: 70% Off + $10 off a $75 purchase at Wine.com only at Restaurant.com

Description: Now you can save 70% Off + $10 off a $75 purchase at Wine.com when you try the new coupon code “THANKS”. It can be used on both of Restaurant.com’s most popular products, Dinner of the Month Club and the $25 Gift Certificates. This offer is now valid through November 30th!

Where To Order:

• 70% off Dinner of the Month Club and get $10 off a $75 purchase at Wine.com! Use the code THANKS. Valid 11/25 thru 11/30/08.
• 70% off $25 Gift Certificates and $10 off a $75 purchase at Wine.com! Use code THANKS and pay $3 only, for each $25 gift certificate. Valid 11/25/08 thru 11/30/08.

Gift Certificates

Restaurant.com has a couple of things they sell — they have $25 gift certificates that are normally sold for $10 each. That’s the usual price. But you can use promotional coupons as we’ve listed above, to receive even better prices for your gift certificates.

Now with their current promotion going on, you can get those $10 certificates (with the $25 dinner value) for 80% off. They’re now going for $2 if you use the PROMO CODE: SURPRISE and visit this link. This offer will be valid through November 24.

A very important caveat that you must be aware of and which I just double-checked: I’ve looked into the eligible restaurants where certificates can be applied, and the ones I’ve seen require a minimum spending amount at the restaurant. Please check your region for requirements on how the certificates can be used.

Dinner of the Month Club

Similarly, when Restaurant.com does a Dinner of the Month Club promotion, they give you a discount on already great prices on their Dinner of the Month Club program. Here’s an example of how their promotional discounts work.

Let’s say they give you an 80% off coupon deal on their program, which offers you 3, 6, or 12 month’s worth of gift certificates plus some bonus free gift certificates if you subscribe to this. Here is how the programs will be priced (again, this is just an illustration of the value savings you can get by using the coupons):

For the particular case of 80% off discounts on the gift certificates, if you order 3 months’ worth of gift certificates through “Dinner of the Month Club”, you get certificates valued at $75 that can be applied to any of your favorite restaurants on the Restaurant.com list. The price for those 3 month certificates will only be $6 PLUS you’ll get another $10 gift certificate for FREE. That is, your $6 will buy you $85 worth of gift certificates. By the same token, for $12, you’ll get gift certificates totaling up to $175; and for $24, you’ll receive gift certificates worth $350. Wooh, not bad! Note that the certificates are made available once per month from the time you make the purchase.

By using this link, you’ll get the 80% discount offer AND bonus freebies when you sign up. You’ll need to use the PROMO CODE: SURPRISE, which lasts through November 24.

For details on how to purchase, gift and redeem your certificates, just check the Help/FAQ section. What’s nice is that if you do use these as gifts, your recipient will only see their options for redeeming (and restaurants to choose from) but won’t see how much you’ve spent. These certificates will be good for a year from the date of purchase, but there can be special terms depending on which state you reside in, so just check their terms and conditions for additional details.

One last note: Restaurant.com does these deals quite often. When an offer like this expires, it doesn’t take long before they come up with a new promotion. But discounts range between 60% to 80% off and are given out periodically, but you just don’t know when they’ll be available. For the latest, current deals, please refer to our announcement at the beginning of this post for details.

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Nowadays, the marketplace is rife with risk, so you may wonder whether it’s a good idea to launch a business during a downturn, especially with layoff numbers mounting daily. When is it ever the right time to start a business?

Starting a business during an economic crisis sounds absolutely crazy but let’s put aside our concerns of risk for the moment, and think about some of the advantages. If you are afraid of losing your job due to the economic meltdown, starting a new business may be the perfect antidote. No more bosses, no more pink slips, and no more backstabbing by your fellow workers !

Why Start A Business Today?

There are more than 27 million businesses in the U.S. with less than 500 employees, of which 20 million have no employees, according to the Small Business Administration as mentioned in this page.

With millions of businesses having less than 500 employees, a good chunk of the American population depend on these small businesses for their livelihood. That’s why the SBA (Small Business Administration) is offering funds to help those who have a good plan for starting a business now. They may be worth checking out; they may have some solutions for the budding entrepreneur.

Opening a business is an exhilarating and frightening experience. But think of the rewards; when everybody is hunkering down, you will be very well positioned to take advantage of the inevitable recovery. These ‘no-employee’ businesses are usually family affairs where everybody has a share of the pie, but a sizable portion is owned by independent professionals who work alone. Again, if you were contemplating opening your own business, now may be a good time to do it, especially if you’ve got the resources. Could you be rewarded for bucking the crowd (and the trends)?

Some Advantages To Starting A Business During A Downturn

Let’s consider some of the advantages of starting a business during slow economic conditions:

1. Space is cheaper. Finding an office, a warehouse or even store space is much easier and much cheaper. If I were a commercial real estate owner, I’d rather rent out my space for less than have no tenants at all.
2. Great deals available. Businesses going under have to get what they can for their furniture and electronics. Auctions may offer ridiculously low prices for items that you’ll need.
3. Cheaper employees. A well trained professional will gladly accept a cut in salary rather than face unemployment. Same with clerical workers.
4. Cheaper services. There are all kinds of service providers who have to lower their prices due to the lack of demand. Think of advertising specialists who can prepare your marketing campaign for much less than normal.
5. Less competition. While your competition is waiting out the storm, why not make yourself available, ready to offer people what they need? Even now, though they may be a little harder to find, there are always people in need of a service or product who are willing to pay (albeit possibly for less). Go and find them, don’t wait for them to find you.

Are You Ready For Entrepreneurship?

Everyone can become an entrepreneur, but not everyone can be successful at it. It’s great to envision such possibilities, but before I reel you in on this idea, let it be known that opening a business is not for everyone. The reality is this: not everybody may be qualified or prepared to start and run a business — and just like with the stock market, if you make big mistakes and are not sure about what you’re doing on your own, you can get hurt….badly. And in a downturn, financial wipeout scenarios are all the more common, and dramatic. So if you’re doing this, you MUST have a good plan, you MUST have done your homework, and in many cases, you’ll NEED access to cash.

Depending on the type of business you’re interested in launching, you could potentially face an enormous amount of risk. Plus, in today’s tight credit era, banks are reluctant to loan money, even to the well-qualified clients. So if you’re serious about your business idea, where can you turn? Well, you can approach people you know; start with your network. Or you could use some of your savings (gasp) or show your solid business plan to some of your wealthy friends (if you’ve got any). Some people I know have started their businesses with credit cards, but going down this path is not the most prudent way to go. In today’s era, it may very well be that you’ll have to bootstrap yourself using your own savings or you’ll need to consider the type of business that won’t require money upfront, such as a service-oriented venture.

Despite all the challenges, you may still find this to be your calling. If so, get creative. People still have to eat, buy clothes, and have fun. You can negotiate lower prices from your providers — they are anxious to sell their surplus. Drum up business by visiting churches (why not, the pastor may become your best salesman), schools, hospitals, clubs, and make them an offer they can’t resist. Note however, that this may not be the best way to promote your business .

Most of all, plan your business very carefully by analyzing the trends in your neck of the woods. Creating a niche has never been easier. But certainly, look before you leap and read our tips for small businesses. This article is about contrarian thinking, and contrarians are often vastly rewarded for their guts (no guts, no glory), patience and shrewdness. Whenever we contemplate a particular endeavor, we need to weigh risks vs rewards — the only sane way to really make a financial decision.

This is a post from The Digerati Life.

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We’ve got the recession in full swing in Silicon Valley and our region, along with many others, is experiencing job losses left and right. So how are we coping with things right now?

Over at the US News Alpha Consumer blog, Kim Palmer has begun a new series called “Recession 2.0, Do You Feel It?”, where she’s asked a few bloggers to share their latest thoughts on this financial slowdown. Well, I just turned in my article yesterday on how we’re dealing with the recession here in Silicon Valley, and it’s now been published.

Coping With The Recession: Income Check

In that article, I wrote with some detail about the adventures (and travails) of two self-employed people who have 2 dependents. My spouse launched his start-up around 2 years ago called BestInClass.com, and only recently did I go off to do my own projects (mostly to do with writing and internet related stuff). We’re doing fine, given the economic setting we have right now, but is what we’re doing enough to keep us afloat in Silicon Valley, where the cost of living is ridiculously stratospheric? That’s the million dollar question.

Well, we continue to trudge on, with just a wee bit of concern about our current income levels. If we continue to bleed green for an extended period of time, we’re going to make a few adjustments (like focus on snaring more service-oriented contracts), but it looks like we’re going to hold on to status quo for now.

Cutting Costs….Hard: There Go The School Funds

Some major change in attitude though, in our household. If you’re a parent (or maybe even if you’re not), you can empathize with this story: there’s a little kid, one of our sweet neighbors, who regularly comes by to sell stuff to raise funds for his school. I’m normally pretty generous and buy items from him every time he drops by. I do the same and order a load of items from my own kids’ schools to support our school district. Unfortunately these days, we’re now watching our money like hawks and account for everything that leaves our pockets. This means that $25 scented gift candles and various overpriced assorted bric-a-bracs, chocolates and what not are no longer part of our discretionary budget. So for the first time ever, I had to leave our little neighbor boy empty-handed. The sad part of the story is, the rest of the neighborhood had the same idea (I took a peek at his order list, and it was pretty much empty).

When times get tough, priorities rule even harder.

Carnival Roundup

Now for the latest from the carnivals! MoneyNing gives us the Smile Edition of the Carnival of Personal Finance. David Ning just quit his job to be a full-time problogger too, did you know? Congrats to him for making the huge step! Anyway from his list of financial articles, I picked a few neat ones to showcase here:

• Free From Broke: Never Mind A New Economic Stimulus Package - Save Yourself! Here are more thoughts on the second stimulus check.
• Cash Money Life: Year End Retirement Plan Moves
• The Wisdom Journal: Money Is 100 Percent Emotional

Next up, The Festival of Frugality was put together by The Financial Wellness Project. You’ll find these posts among other money saving articles in their awesome list:

• Passive Family Income: Turn Frugal Behaviors Into A Game
• Shark Investor: How YOUR Saving Advice Caused The Financial Crisis
  
• Money Beagle: Saving Money By Mulching The Leaves

Recent Carnivals

• Carnival of Money Stories
• Investing Carnival
• Carnival of Money Hawks
• Road To Financial Independence
• Carnival of Debt Reduction
• Total Mind and Body Fitness Blog Carnival
• Best of Me Symphony
• Kids and Money

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Do you cram your holiday shopping on Christmas Eve? If you’re a holiday procrastinator, maybe these simple, convenient, last minute gift ideas and shopping tips will take some of the pressure away.

I, Procrastinator

“Procrastinator” should have been my middle name. I’ve always thought that anything worth doing is worth doing well — tomorrow. Or maybe the day after. I blame my dad, to be honest. As soon as I was old enough to use the pointy scissors, it became an annual tradition for my dad to drag me out after dinner on Christmas Eve to do his Christmas shopping for my mother. This usually took a few hours and involved a fair amount of money, as there was no real plan. Then after she went to bed for the night, Dad would boost all of the packages through my bedroom window, and I’d spend a couple of hours wrapping everything and getting it all under the tree. He paid me $0.25 per package, which I then spent on New Kids on the Block trading cards .

Similarly, now that I’m all grown up, I find myself putting off holiday shopping and spending too much at the last minute because I’m desperate for a gift. I recognize that this is not a good habit and vow each year to mend my ways, but I’ve found that the rate of recidivism when it comes to procrastination is quite high. Oh sure, I do the easy stuff early in the season: the spousal unit always needs new socks and underwear, Mom looks forward to the annual box of See’s candy, etc., etc. The tougher things, thoughtful gifts, are the ones I put off buying.

I’ve come to realize that procrastinating is silly — good gifts don’t need to take a whole lot of effort (or money). For instance, my friend loves snowman ornaments. She also likes to be pampered but doesn’t like to spend money on herself. But instead of searching for and spending too much on the perfect snowman decor, I head over to the salon we both use and pick up a gift certificate for a mid-winter pedicure. She loves getting her scaly winter feet prettied up, even if they spend all of their time in winter boots or fuzzy slippers. See? Easy, no more expensive than the ornament, and interpreted by the recipient as thoughtful. Trifecta!

Last Minute Gift Ideas For Those Who’ve Run Out Of Ideas

Not sure what to get? Here are a few more shopping tips as well as holiday gift ideas that may be convenient, simple enough and good for last minute scrambles, but I believe they’ll make even the biggest procrastinators look pretty good (yes, this list is “gift card heavy”):

• Keep a few basics on hand. There happens to be a fairly large Amish population in my area, and they make and sell beautiful hand woven baskets of all shapes and sizes. I’ve always got a few of these baskets stashed in a closet, and can quickly pick up nuts, cheeses, jams (sometimes also Amish made), candies, wine, etc. Load the goodies into a basket, wrap the basket in cellophane, tie a pretty seasonal ribbon around the top and, ta-da! Insta-gift.
• AAA Membership: Got a friend that drives a clunker? How about a loved one that just has a long daily commute? An annual membership to AAA might save them some enormous headaches, not to mention a lot of money, in the event of a breakdown.
• Wine Club: Does your mom enjoy a glass of wine with dinner? Sign her up for a wine club. Wine.com offers clubs starting at 3-months and $89. Just select reds or whites and you’re on your way. Or perhaps this will do: a wine basket from what else but Winebasket.com, with 5% off your order above any additional discounts you get from items on sale!
• Gift Cards/Certificates: I’m a little tired of hearing people say that you’re “cheating” when you pick up gift cards for those on your list. I disagree with the notion that these aren’t thoughtful gifts — some of the best things I’ve received were made possible through such cards! Actually, I’m always thrilled when someone who knows I’m a reader gives me a Barnes & Noble gift card. And, like the friend I mentioned above, these cards are a good way to treat someone to something that they like but might not otherwise buy for themselves.

  On the plus side, they are easy and convenient gift choices; the downside, however, is that your gift recipient will know how much you’ve spent on them. Or worse, the cards or certificates may go unused, if forgotten. But if you do decide to go this route, then just make sure that what you purchase doesn’t have an expiration date or fees for non-use.

  Some great places that offer general gift cards or certificates?

  • Try GiftCertificates.com, which provide e-gift cards that are redeemable online.
  • You can also pick up cards from the big e-tailers such as Buy.com and Amazon.com.

  I’ve listed more sources for these items below.

• News and Magazine Subscriptions: Every year, my dad renews my husband’s “Sports Illustrated” subscription, and my husband renews my dad’s Wall Street Journal subscription. Everyone drinks some eggnog and goes home happy.
• Entertainment Subscriptions and Gift Cards: One of the easier gifts to give out are those relating to some form of entertainment or another. I’m sure you know more than a few couch potatoes, game enthusiasts and music aficionados who’ll appreciate a subscription, gift card or access to Blockbuster, Gamefly or eMusic respectively! And if you’ve got a frugal aunt (like, who doesn’t? ), maybe the 2009 Entertainment Book will thrill them with its countless discounts for almost everything under the sun.
• Fancy Food for Cheaper? Well, we all have to eat right? You don’t have to be a gourmand to enjoy the gift of a pleasant meal from your choice restaurant. And one of the most affordable gift ideas I’ve come across, which I’m thinking of picking up for several people on my list is a gift certificate to Restaurant.com. In the past, I’ve been presented with a Home Bistro gift certificate, but I’ll be honest and say that I wasn’t too impressed by the meals I’ve received from them. But who knows? That was a few years ago, so maybe things have gotten better since then.
• Gift Cards for the Work at Home Type: Those who want to beef up their home offices or who enjoy gadgets and electronics may love a gift card from Sony’s e-store.
• Beauty and Wellness: A gift that pampers and beautifies will be very apropos for any lady who’d love to look and feel better. Maybe a nice scent or some bath, body and face products from FragranceX or SkinStore.com will tickle her fancy! And since fragrances and beauty products are personal, a gift card is a practical choice.

Once again this year, I vow not to procrastinate when it comes to holiday shopping. But even if I do, I hope not to rack my brain over what presents to give, given how much easier today’s retailers and e-tailers are making it for us to get our shopping done.

At any rate, I’ve started my list already using some of the ideas above, and plan to finish my shopping by December 1. If all goes well, I’ll be able to spend the days leading up to the holidays enjoying my friends and family (and all the holiday food and drinks!), and not panicking about what I’m going to get for whom.

 
SVB’s POV: Thanks to Emiley Thacker for sharing her thoughts with us in this article. As far as I know, there are no Amish communities around where I live .

This is a post from The Digerati Life.

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I no longer have a job to worry about (today, I’m self-employed and have other problems…), but allow me to share my own job layoff story with you from way back when.

Scary things are beginning to happen around here as the harsh realities of recession begin to hit closer to home.

At this time, I’m personally encountering more and more people who are hurting because of the effects of the shrinking economy. Here in Silicon Valley, there’s practically nobody I know now who isn’t either laid off, worried about being laid off in the near term, or is in the middle of an active job hunt. Just last week, a dear friend was involuntarily released from his job, while others are debating whether they should take some work time off because “business is slowing down” and they’d rather prepare for what they think is the inevitable.

My Own Job Layoff Story

What I’m seeing here is a much more broad-based recession than the one I remember in 2000. Seven years ago, I was laid off from my position at a Silicon Valley startup because of the dot com bust. The company I worked for imploded painfully after 4 waves of lay offs. I stuck with the company till the bitter end, being one of the core managers and early employees of the company, so I had to participate in the layoff process from both sides of the desk. I had to lay off people in the first 3 waves, and finally, as was expected, I was let go on the last wave as the company itself shut down altogether. It was definitely a sad and stunning process to live through, especially since it was one place I truly enjoyed working 14 hours a day at . But those are the risks and vagaries of startups. Startups and recessions prove to be a lethal combination, unfortunately: they just don’t mix well.

So as the recession hits, we’ve gone from foreclosures, tighter credit, plummeting housing prices, failing banks, crashing stock markets to the dreaded layoffs. The last thing that stands between us and the food line is our cash flow, and once that’s at risk, it’ll be like landing in the final circle of doom in Dante’s Inferno (for some). Speaking of lethal…. More and more are resorting to extreme behavior when their livelihood is threatened. Yet one more tragic indicator of how far this economy has fallen?

Job Loss Tracker and Where To Get Your Next Job

More signs and symptoms of our weakening economy include this Job Layoff Tracker from Techcrunch that I stumbled upon recently. But don’t panic just yet, as there are many options available to those on the lookout for new jobs, which I promise to cover in detail sometime this week. In the meantime, if you’re needing a job or wanting to be proactive about your employment situation, you can check out a few online resources such as Job.com, Resume Rabbit and Snag A Job. It never hurts to be one step ahead of the game.

This is a post from The Digerati Life.

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